Required information E9-11 (Algo) Demonstrating the Effect of Book Value on Reporting an Asset Disposal (LO 9-5] [The following information applies to the questions displayed below.] Nomad Industries is the world's leading express-distribution company. In addition to its 643 aircraft, the company has more than 57,000 ground vehicles that pick up and deliver packages. Assume that Nomad sold a delivery truck for $25,000. Nomad had originally purchased the vehicle and recorded it in the Truck account for $41,000 and had recorded depreciation for three years. E9-11 (Algo) Part 1 Required: 1. Calculate the amount of gain or loss on disposal, assuming that Accumulated Depreciation-Truck was (a) $16,000, (b) $12,000, and (c) $18,000. (Select "None" if there is no Gain or Loss.) Gain/Loss Amount (a) (b) (c) ! Required information E9-11 (Algo) Demonstrating the Effect of Book Value on Reporting an Asset Disposal (LO 9-5) [The following information applies to the questions displayed below.) Nomad Industries is the world's leading express-distribution company. In addition to its 643 aircraft, the company has more than 57,000 ground vehicles that pick up and deliver packages. Assume that Nomad sold a delivery truck for $25,000. Nomad had originally purchased the vehicle and recorded it in the Truck account for $41,000 and had recorded depreciation for three years. E9-11 (Algo) Part 2 2. Using the following structure, indicate the effects (accounts, amounts, and + for increase and for decrease) of the disposal of the truck, assuming Accumulated DepreciationTruck was (a) $16,000, (b) $12,000, and (c) $18,000. (Enter any decreases to Assets, Liabilities, or Stockholders' Equity with a minus sign.) Assets Liabilities + Stockholders' Equity Accounts Payable + (a) (a) = + (a) = + = + = + (b) (b) (b) (c) = + + + (c) (c) = + field.) View transaction list Journal entry worksheet Record the sale of the truck that has an accumulated depreciation balance of $18,000 at the time of disposal. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal